Uzbekistan's external debt rises 24.7% in a year to $88.03 billion

According to the World Bank's International Debt Report 2026, Uzbekistan's external debt reached $88.03 billion at the end of 2025, up 24.7% over the year. Over the past decade it grew about 6.5 times from $13.57 billion in 2015. The growth outpaced Europe and Central Asia (15.3%) and low- and middle-income countries (5.5%).

Of the total, $48.46 billion is public and publicly guaranteed debt, and $32.84 billion is private non-guaranteed borrowing. Multilateral lenders hold $22.82 billion of public debt, while bilateral debt to foreign governments totals $10.53 billion, led by China at $3.85 billion and Japan at $2.99 billion.

In 2025 Uzbekistan placed $3.9 billion in international bonds. Debt rose to 60% of gross national income and 227% of export earnings. Debt service fell to 29% of export earnings, down 18.6%, and to 8% of GNI, down 17.7%, compared with 2024.